Request for Proposal: Annual Audit
Abuja, Nigeria
Finance – Africa - West /
Consultant - Local /
Hybrid
Background
Search for Common Ground (Search) is a non-profit organization registered in the US and Belgium as a non-profit organization, with its headquarters based in Brussels, Belgium. Search implements conflict transformation projects in over 30 countries worldwide. Search for Common Ground is a global peacebuilding NGO. We help people find local solutions to today’s toughest violent conflicts and we support citizens and institutions trust each other and work together to find peace. With over 800 staff worldwide, Search implements projects in Africa, Asia, Europe, and the Middle East.
Our Program in Nigeria
Search has been working in Nigeria since 2004. We have developed a robust toolbox of locally adapted approaches to preventing violence and building collaboration across dividing lines. Some of our flagship approaches in Nigeria include community-based peace architecture, early warning and response mechanisms, behavioral change media, and strategic communications, digital listening and response, and conflict analysis and research. Our programs are funded by a diversity of public and private donors, including the U.S. Department of State, USAID, the European Union, the Dutch Ministry of Foreign Affairs, the French Ministry of Foreign Affairs, and the Carnegie Foundation, among others. Search’s head office in Nigeria is in Abuja, with regional offices in Adamawa, Taraba, Bauchi, Jos, Benue, Kaduna, Rivers, Delta and Bayelsa.
We are searching for…
Search seeks proposals from audit firms for its annual statutory audit for the period 2023 to 2025 for its country office of Nigeria.
The objective of the Audit
The overall purpose of this audit is to give reasonable assurance of;
1. All income received and costs incurred in the current fiscal year are in accordance with the relevant policies of Search for Common Ground, and are in compliance with Local laws and Regulations.
2. Financial statements are prepared in accordance with Applicable legal and accounting framework
3. There is no material error
4. Financial statements are free from material misrepresentation due to fraud or error
5. Project expenses are incurred in compliance with Donor agreements rules and regulations
Preparation of Annual Financial Statements
The responsibility for the preparation of financial statements including adequate disclosure is that of the SFCG. SFCG is also responsible for the selection and application of accounting policies. SFCG would prepare the Financial Statements in accordance with the Statement of Accounting Standard.
The auditor is responsible for forming and expressing opinions on the financial statements. The auditor would carry out the audit in accordance with the International Standards on Auditing (ISA), as promulgated by the International Federation of Accountants (IFAC) as part of the audit process, the auditor may request from the SFCG written confirmation concerning representations made in connection with the audit.
Scope of the Audit
As stated above, the audit of the project will be carried out in accordance with International Standards on Auditing (ISA) promulgated by the International Federation of Accountants (IFAC) and will include such tests and auditing procedures as the auditor will consider necessary under the circumstances. Special attention should be paid by the auditor as to whether the:
1. Funds are used in accordance with the conditions of the relevant donor agreement (s), with due attention to economy and efficiency, and only for the purposes for which the funding was provided.
2. Co-funding and sub-award management is in compliance with SFCG Policies and Procedures
3. Goods, works and services have been procured in accordance with the relevant policies and donor regulations
4. All necessary supporting documents, records, and accounts have been maintained properly
5. National laws and regulations have been complied with, especially tax and other Government liabilities are paid off accurately and timely.
6. Personnel Liabilities are properly recorded as per local labor laws or SFCG policies and are accurate.
7. Assets are properly recorded, and tagged and the listing is prepared in accordance, and verified for existence on a sample basis.
In complying with International Standards on Auditing, the auditor is expected to pay particular attention to the following matters:
1. Fraud and Corruption: Consider the risks of material misstatements in the financial statements due to fraud as required by ISA 240: The Auditor’s Responsibility to Consider Fraud in an Audit of Financial Statements. The auditor is required to identify and assess these risks (of material misstatement of the financial statements) due to fraud, obtain sufficient appropriate audit evidence about the assessed risks, and respond appropriately to identified or suspected fraud;
2. Laws and Regulations: In designing and performing audit procedures, evaluating and reporting the results, consider that noncompliance with laws and regulations may materially affect the financial statements as required by ISA 250: Consideration of Laws and Regulations in an Audit of Financial Statements;
3. Governance: Communicate audit matters of governance interest arising from the audit of financial statements with those charged with governance of an entity as required by International Standards on Auditing 260: Communication of Audit Matters with those Charged with Governance.
4. Risks: To reduce audit risk to an acceptable low level, determine the overall responses to assessed risks at the financial statement level, and design and perform further audit procedures to respond to assessed risks at the assertion level as required by Internal Standard on Auditing 330: the Auditor’s Procedures in Response to Assessed Risks.
Financial Statement
The auditor should verify that the Financial Statements have been prepared in accordance with the agreed accounting standards and give a true and fair view of the financial position of the project at the relevant date and of resources and expenditures for the financial year ended on that date. The complete set of Financial Statements should include:
1. A statement of financial position;
2. A Statement of Activity (Income and Expenditure) explaining them by donor agencies in the notes;
3. A reconciliation of Net Assets;
4. A Cash Flow Statement);
5. A Summary of the principal accounting policies that have been adopted, and other explanatory notes.
Audit Report
1. The auditor will issue an opinion on the financial statements in accordance with International Standards on Auditing and the local legal and accounting framework.
2. Auditors should include a separate Management report highlighting key internal control weaknesses and non-compliance with the financing agreement terms.
Additional Opinion
Compliance with Taxation Requirements and Other Government Liabilities: The auditor will share a report on the accuracy, timeliness, and proper recording of all taxation liabilities and other government liabilities specifying by name. This report should have instances of non-compliance, Impact thereof, and recommendations for corrective actions.
Personnel Liabilities: Auditors will share a separate report on the adequacy of personnel liabilities by specifically reviewing the Completeness, Accuracy, and Timely disposition, Of Personnel liabilities in accordance with Labor Laws and the Human resource manual. This includes reviewing the fact that all minimum labor law liabilities are provided for or not.
Asset Listings and related processes: A report on the accuracy of Asset listings (Inventory listings) for existence and related internal controls on review and monitoring.
Management Letter
In addition to the audit report, the auditor will prepare a management letter, in which the auditor will:
1. Give comments and observations on the accounting records, systems, and controls that were examined during the course of the audit;
2. Identify specific deficiencies or areas of weakness in systems and controls, and make recommendations for their improvement;
3. Report on compliance with donor agreements;
4. Communicate matters that have come to their attention during the audit which might have a significant impact on the implementation of the projects;
5. Comments on Co-funding and sub-award management is in compliance with SFCG Policies and Procedures
6. Comments on whether Goods, works and services have been procured in accordance with the relevant policies and donor regulations or not.
7. Bring to the recipient’s attention any other matters that the auditor considers pertinent, including ineligible expenditures.
8. Ideally, the management letter should also include responses from SFCG to the issues highlighted by the auditor.
Available Information
The auditor shall have access to all legal documents, correspondences, and any other information deemed necessary by the auditor.
The auditor shall obtain a written declaration, signed by the management of the country organization, attesting:
1. Recognition of the responsibility of the organization in the establishment of correct, complete, impartial accounts and financial statements, faithful to reality, in accordance with the objectives of the organization and the reference documents (project description, contracts, budgets, etc.), and national legislation;
2. Making available to the auditor all books of accounts, supporting documents and other documents, minutes, and relevant information necessary for the audit;
3. All information concerning assets and property;
4. All information concerning funding received or to be received, own funding relating to the period under review;
5. Willingness to provide all information and explanations requested by the auditor within the framework of his mandate, either orally or in writing.
General
The financial statements, including the audit report, management letter, and management response should be received by SFCG no later than two (2) months after the end of the accounting year to which the audit relates.
1. The audit report and all other documents resulting from the audit shall be written in English.
2 The auditor should submit the report electronically to designated individuals. In exceptional cases, an original paper copy might be required.
Submission Requirements
To be considered the company has to meet at least one of the following conditions:
1. The auditor is a member of a national accounting or auditing body or institution which in turn is a member of the International Federation of Accountants (IFAC).
2. The auditor is a member of a national accounting or auditing body or institution. Although this organization is not a member of the IFAC, the auditor commits to undertake this assignment in accordance with the IFAC standards and ethics.
Further, please provide us with the following information:
1. Proposal: Overall Approach and Methodology: Based on the information provided, describe your specific expertise, overall approach, and proposed auditing procedures as well as the proposed annual audit schedule. Include phases of the audit and timing.
2. Cost Proposal: The cost proposal should include a budget summary and a detailed budget. Provide a fee schedule, including the estimated number of hours to be spent by each person and the expected rate per hour for each. Be sure to include travel costs/ out-of-pocket expenses in your fee structure and indicate how these are calculated, including whatever guarantees can be given regarding increases in future years, and the maximum fee that would be charged.
a. State how you manage to perform the audit against a fixed fee in case of overruns
b. Describe your billing rates and procedures for technical questions that may come up during the year, or whether these occasional services are covered in the proposed fee structure.
3. Past Experience and References:
a. Describe your firm’s experience to provide evidence of the firm’s qualifications to deliver the above services.
b. Summarize your firm’s qualifications regarding international nonprofit organizations with similar structure and revenue.
c. Describe at least two audits of similar scope and complexity you have worked on previously. Provide a point of contact with a telephone number and email address at the client of each of the described projects.
d. Disclose any Conflict of Interest with Search for Common Ground, its staff, or Governance body
4. Key Personnel and Staffing: Describe the key personnel as well as information on the overall staffing plan for the project, including bios for those key personnel. Describe your local audit staff turnover experience within the past three years and how you would provide continuity of assigned personnel, including the partner, on this engagement.
5. Capabilities to perform audits for non-profit organizations: Provide a summary of capabilities to conduct statutory audits for nonprofits.
6. Your firm‘s added value, and why our selection of your firm as our external auditors is the best decision we could make.
7. List of References of prior or current clients.
8. Proof of Affiliation
9. Timeline: Applications must be submitted before May 3rd, 2024. Entries will be reviewed on a rolling basis. Any questions concerning these Terms should be directed to: nigeriahr@sfcg.org no later than one week after the publication of this tender
As job descriptions cannot be exhaustive, the position holder may be required to undertake other duties that are broadly in line with the above key responsibilities.
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Only applicants invited for an interview will be contacted. No phone calls, please. Please see our website www.sfcg.org for full details of our work. All Search Employees must adhere to the values: Collaboration- Audacity - Tenacity - Empathy - Results. In accordance with these values, Search enforces compliance with the Code of Conduct and related policies on Anti Workplace Harassment, Protection from Exploitation and Abuse, Child Safeguarding, Conflict of Interest, and Anti-fraud. Search is committed to safeguarding the interests, rights, and well-being of children, youth, and vulnerable adults with whom it is in contact and to conducting its programs and operations in a manner that is safe for children, youth, and vulnerable adults. Search for Common Ground does not and shall not discriminate on the basis of race, color, religion (creed), gender, gender expression, age, national origin (ancestry), disability, marital status, sexual orientation, or military status, in any of its activities or operations. View our code of conduct here and our privacy policy here.
Les descriptifs de pouvant ne pouvant être exhaustifs, le titulaire du poste pourra être amené à entreprendre d'autres tâches qui correspondent globalement aux responsabilités clés ci-dessus.
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Seuls les candidats invités à un entretien seront contactés. Pas d'appels téléphoniques s'il vous plaît. Veuillez consulter notre site Web www.sfcg.org pour tous les détails de notre mission.
Tous les employés de Search doivent adhérer aux valeurs de Search : Collaboration- Audace - Ténacité - Empathie - Résultats. Conformément à ces valeurs, Search fait respecter le code de conduite et les politiques connexes sur la lutte contre le harcèlement au travail, la protection contre l'exploitation et les abus, la protection des enfants, les conflits d'intérêts et la lutte contre la fraude. Search s'engage à préserver les intérêts, les droits et le bien-être des enfants, des jeunes et des adultes vulnérables avec lesquels elle est en contact et à mener ses programmes et ses opérations d'une manière qui soit sûre pour les enfants, les jeunes et les adultes vulnérables.
Search for Common Ground ne fait pas et ne doit pas faire de discrimination fondée sur la race, la couleur, la religion (croyance), le sexe, l'expression de genre, l'âge, l'origine nationale (ascendance), le handicap, l'état matrimonial, l'orientation sexuelle ou le statut militaire, dans aucune de ses activités ou opérations.
Dado que la descripción de funciones no puede ser exhaustiva, el titular del puesto puede tener que realizar otras tareas que coinciden en líneas generales con las responsabilidades clave mencionadas.
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Sólo se contactará con los candidatos invitados a una entrevista. Se agradece no recibir llamadas telefónicas. Consulte nuestro sitio web www.sfcg.org para conocer todos los detalles de nuestro trabajo. Todos los empleados de Search deben adherirse a los valores de la organización: Colaboración - Audacia - Tenacidad - Empatía - Resultados. De acuerdo con estos valores, Search hace cumplir el Código de Conducta y las políticas relacionadas con luchar contra el acoso en el lugar de trabajo, la protección contra la explotación y el abuso, la protección de la infancia, los conflictos de intereses y la lucha contra el fraude. Search se compromete a salvaguardar los intereses, derechos y bienestar de los niños, jóvenes y adultos vulnerables con los que está en contacto y a llevar a cabo sus programas y operaciones de una manera que sea segura para los niños, jóvenes y adultos vulnerables. Search for Common Ground no discrimina ni discriminará por motivos de raza, color, religión (credo), género, expresión de género, edad, origen nacional (ascendencia), discapacidad, estado civil, orientación sexual o condición militar, en ninguna de sus actividades u operaciones. Consulte nuestro código de conducta aquí y nuestra política de privacidad aquí.
